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HTC Global Outbids Capgemini, Wins $93MM Purchase Agreement for Ciber

May 22, 2017, 07:30 AM
Filed Under: Bankruptcy

HTC Global Ventures emerged as the winning bidder in the bankruptcy sale of Ciber, Inc. and its subsidiaries Ciber International LLC and Ciber Consulting, Inc., outbidding a $50 million offer from "stalking horse" bidder Capgemini, according to a filing in the United States Bankruptcy Court for the District of Delaware.

HTC and Ciber have agreed that the Purchaser will acquire all or substantially all of the Debtors’ assets relating to the Debtor’s North American business, along with 100% of the capital stock in wholly-owned non-Debtor subsidiary CIBERsites India Private Limited, on the terms set forth in the Purchase Agreement through a sale under 11 U.S.C. § 363.

The agreed upon sale price is $93 milliom, according to a filing with the SEC.

Ciber, Inc., a global information technology consulting, services and outsourcing company, filed for Chapter 11 in early April, and entered into a "stalking horse" Purchase Agreement with Capgemini to acquire substantially all of the assets of the company in North America and India in a 363 Sale subject to higher and better offers.

According to reporting from Fox Business, also received court approval to extend the maturity of its $41 million bankruptcy loan into June, as well as increase the size of the facility, which was provided by prepetition lender Wells Fargo & Co.

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